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Property MarketingAuction_processHARD

At an auction whose conditions require bidders to register, the auctioneer accepts a bid from someone who has not registered. A registered bidder objects. What should happen?

Correct Answer

A) The unregistered bid should be disregarded and bidding resumed from the last valid bid.

Standard auction conditions require bidder registration before participating. An unregistered bid is typically invalid and should be withdrawn, potentially requiring the auctioneer to restart the bidding from the last valid registered bid to maintain auction integrity.

Answer Options
A
The unregistered bid should be disregarded and bidding resumed from the last valid bid.
B
The bidding continues, because the auctioneer has discretion over which bids to accept.
C
The property is automatically passed in because of the procedural error.
D
The bidder may register on the spot, which validates the bids already made.

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Related Topics & Key Terms

Key Terms:

auction registrationbidder qualificationauction conditionsprocedural integrityinvalid bids
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